The travel and hospitality industry globally has faced unprecedented impact due to the coronavirus pandemic which has adversely affected hotel revenue, occupancy and ADR. Hotel industry is going to see many changes after Covid 19. Now it’s time for hoteliers to work on various strategies, how the industry can move towards profitability.
Few significant steps, hoteliers can take for their staff and guests:
Contactless technology – Adoption of smart technology such as face recognition and digital key
Strict Cleaning Protocols– Self-cleaning rooms, deep sanitization routine, providing masks and sanitizers to all guests
Intelligent Benchmarking – Real-time pricing intelligence to properly capitalize on demand
Focus on Profit – Hoteliers now need to focus on their operational health. During this slowdown it is easy to see how RevPar are actually are. As now cash flow is less, it is important for hoteliers to know the money flowing in bottom line. So it’s time to use complete metrics like gross operating profit per available room (GOPPAR), to benchmark performance like how your hotel really makes and how much money you’re putting into operation.
Integrated System – Integrated revenue management, distribution and reservation system
Focus On Domestic – Staycations, drive-ins and domestic travel is the new hot. Soft sell offerings like welcoming pets, live music, small meeting spaces, private rooms, suites, or private sauna/spa facilities to attract local travelers.
Knowing your new source markets in the post COVID world – Monitor the travel advisory to identify source markets hoteliers can tap as soon as recovery begins.
Create Long Stay Package – Short international trips to be replaced with longer in-country stays, since the increase in remote working allows more people to work from anywhere.
Shortened Booking Window – As the booking window gets shortened, hotels need to attract early bookers with more incentives and flexibilities.
Healthy Distribution Mix – Spread your inventory across multiple channels to capitalize on different demand sources – focus on regional OTAs and Metasearch sites along with brand website and offline source.
Along with these hoteliers need to analyse the data and be prepared to reallocate their budget and find creative ways to serve the needs of their local customers and communities.
Hotels should target the right OTAs and need to do strong planning to acquire guests. Relying on only one channel can be much more challenging to bounce back than the ones that have a healthy distribution mix, including direct solutions like metasearch and website as well as indirect solutions like Online Travel Agencies (OTAs).
Considered one of the best hotel channel manager in the market, RateTiger is integrated with more than 400 OTAs and working closely with 9000 hotels globally. It is the connectivity partner of choice for large hotel groups, mid-scale chains as well as independent properties in both luxury and budget segment worldwide providing solutions through its core product brands – RateTiger , LiveOS and AgentX101 . Here is a list of partners we connect to – https://www.erevmax.com/erevmax/erevmax-partners-details.html
We would like to be of assistance to suggest new ways & means of increasing online & offline business for your property. Let’s work together to rebuild travel and help each other earn more business. Connect with us for your connectivity needs to make the most of hotel online revenue- https://www.erevmax.com/erevmax-contact.htmls